The housing bubble is back based on both anecdotal and statistical evidence. But this time around it’s just one of many within the Money Bubble.
Last week I ran into a friend whom I’d been worrying about. He’s a real estate appraiser and his work had been drying up as interest rates rose and homeowners stopped refinancing their mortgages.
But now he’s back to being happily swamped because instead of refinancing, everyone is buying — often, he says, for above the asking price.
A couple of days later my wife and I were at a slide show put on by friends just back from New Zealand. They’d heard that a neighbor was thinking about selling his house and on an impulse made him an offer. He accepted, and our friends became instant homeowners.
The very next day my wife’s father called to say that the company running a…
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